Susquehanna-backed e-commerce platform Plimus sells to private equity firm Great Hill for a nine figure sum ten years after it was founded.
US-based private equity firm Great Hill Partners has acquired Plimus, the US-based e-commerce platform backed by US-based securities firm, the Susquehanna International Group (SIG), for $115m.
Susquehanna’s corporate venturing unit, Susquehanna Growth Equity Group, was the sole investor in Plimus’ series A round, putting up $18m in July 2008.
Founded in 2001, Plimus provides an e-commerce sales platform for companies which includes marketing, affiliate networking, payment and community features. Plimus currently has a user base of about 6,500 small and medium sized businesses, which continues to grow alongside the overall e-commerce market, which is predicted to be worth $300bn in the US by 2012.
Hagai Tal, chief executive at Plimus, said: "With our solid existing customer base and favourable market trends, we are fortunate to work with Great Hill Partners to expand our ability to capture the opportunities ahead. Our Plimus teams in the US and Israel will continue to focus on our clients’ successful monetization in an increasingly global, complex and expanding online and mobile world. Our vision of e-Commerce 3.0 and frictionless e-Commerce will fuel these solutions."
